Which of the following is not true regarding a concave function? ...

[bobbysung]

Which of the following is not true regarding a concave function?
 a. It is bowl-shaped down.
  b. It is relatively easy to maximize.
  c. It has multiple local maxima.
  d. It has a single global maximum.

Question 2

The makers of Compute-All know that in the past, 40 of their sales were from people under 30 years old, 45 of their sales were from people who are between 30 and 50 years old, and 15 of their sales were from people who are over 50 years old. A random sample of 300 customers was taken to see if the market shares had changed. In the sample, 100 of the people were under 30 years old, 150 people were between 30 and 50 years old, and 50 people were over 50 years old.
 a. State the null and alternative hypotheses to be tested.
  b. Compute the test statistic.
  c. The null hypothesis is to be tested at the 1 level of significance. Determine the critical value from the table.
  d. What do you conclude?

[jgranad15]

Answer to Question 1

C

Answer to Question 2

a. H0: p1 = .4, p2 = .45, and p3 = .15
Ha: The population proportions are not p1 = .4, p2 = .45, and p3 = .15
b. 5.55
c. 9.21034
d. Do not reject the null hypothesis. There is not enough evidence to conclude that the market share has changed.

[bobbysung]

Thank you

[jgranad15]

Happy to help you